While current circumstances have a notable impact on the present-day housing market, the long-term nature of the market will be altered too. One area where we expect to see a significant change in the market is virtual tours.
In the Government’s guidance to the housing market, there is a section on viewings, which includes the following information:
“There should not be any visitors into your home, and you should therefore not let people visit your property for viewings. Your agent may be able to conduct virtual viewings, and you could speak to them about this possibility.”
This advice means virtual tours and viewings are likely to be popular and in-demand in the next few weeks and months. However, virtual tours will likely become essential for the property market’s future.
Demand for video content is increasing
The demand for video content has been increasing in recent years. This isn’t just the case in the housing market; it is the same in every industry. However, it is easy to see why buyers are keen to view virtual tours. Property listings need to have high-quality photographs to grab attention, and before too long, video content and virtual tours will be just as essential.
Right now, with agents not travelling to client’s houses, there is a need for vendors to capture their video footage. This is something we are happy to assist with at Hunters Forest Hill. We are more than happy to offer guidance on how to capture the best footage of your home.
Presenting a house for video footage isn’t much different from how a home should be presented when taking photographs or when inviting viewers to the property. There is a need to clean the home, declutter the house, and create as much space as possible. When you have created a welcoming environment, this will come across in video content as much as it does in images.
Prospective buyers want to see virtual tours
Vendors should also be aware that buyer demand for video tours will increase. The increase in people working from home will impact the average workforce and many industries. As estate agents, we often spend many hours working from home, so the current situation isn’t as challenging as it is for some sectors.
However, as people become more confident with live video conferencing and following video tours, this will increase demand for this style of content. If a prospective buyer can view several homes in one day, or morning, from the comfort of their home or office, they will do so.
Prospective buyers will likely pay more attention to listings with video content. Part of this is human nature, we love to see what other people’s homes are like, and virtual tours provide a simple and effective way to view other homes. Also, viewing a home from home is quick and convenient.
The number of actual viewings will likely fall, but the ones which do take place will see prospective buyers travelling with higher intent. Virtual tours are a fantastic opportunity to provide potential buyers with information about properties, helping people make an informed decision. This is great news for vendors, as well as buyers.
At Hunters Forest Hill, we know selling property is challenging, but we are here to assist you in the process. If you aim to buy, sell, let your home or rent property, we are active in New Cross, Peckham, Dulwich and Brockley, in addition to Forest Hill, so get in touch with one of the top three agents in London, and we will be happy to assist you.